Vanquis Chrome Card

DarrenW80

I have a Vanquis Chrome card but iv'e not used it yet as I am a little worried about what they are going to charge me to do so. On the letter I had with the card it says the monthly purchase interest rate is 2.839%. What I would like to know is, will they charge me a fee every time I make a purchase? I am a bit confused.

~Beanie~

DarrenW80 wrote: »

I have a Vanquis Chrome card but iv'e not used it yet as I am a little worried about what they are going to charge me to do so. On the letter I had with the card it says the monthly purchase interest rate is 2.839%. What I would like to know is, will they charge me a fee every time I make a purchase? I am a bit confused.

No, you don't get charged a fee every time you use it.
If you pay the balance off in full every month after you get the statement then you won't pay anything at all (charges or interest).

If you only pay the minimum or any amount that is less than the full balance, then you will be charged interest at the rate shown.

redux

~Beanie~ wrote: »

No, you don't get charged a fee every time you use it.
If you pay the balance off in full every month after you get the statement then you won't pay anything at all (charges or interest).

If you only pay the minimum or any amount that is less than the full balance, then you will be charged interest at the rate shown.

To clarify very slightly, full balance there means pay off the balance amount as shown on the statement.

Someone with online access might see a larger balance. If there has been new spending since the statement, this will appear on next month's, to be paid in due course after that.